What are SR&ED Tax Credits?

Introduced in the 1980s, the Scientific Research & Experimental Development (SR&ED) tax credit is a federal tax incentive program administered by the Canada Revenue Agency (CRA). The program encourages businesses of all sizes to conduct research & development to create new or improve existing products, processes, principles, methodologies, or materials.

Check out our easy-to-read SR&ED infographic to learn more: Everything You Need to Know About SR&ED Tax Credits.

What Can You Recover?

Eligible companies can recover up to 70% of qualifying expenditures in refundable or non-refundable tax credits, depending on the province they are in. Eligible expenditures include salaries, sub-contractor fees and materials. Read our SR&ED FAQ to learn more.

Are You SR&ED Eligible?

Your project must meet three criteria in order to be eligible for SR&ED

  1. Technological Advancement
  2. Technical Content
  3. Technological Uncertainty

Here are a few questions that we use to determine whether your project is SR&ED eligible:

  • Are you involved in engineering, design, data collection, testing or other developmental work?
  • Have you designed or developed new software?
  • Have you changed a process to reduce costs or to improve your manufacturing?
  • Have you created a new product, made improvements or added new features to an existing product, or built a prototype?
  • Have you incurred costs related to a process, project or prototype that is incomplete because of unresolved technical problems?

If you answered ‘yes’ to any of the questions above, contact us for a complimentary assessment. We’ll go through your project in more detail and provide an estimate of your potential return, no obligation required.

Boast Capital Can Handle Your SR&ED Claims For You

Given our technical background and SR&ED experience, we are able to translate your work into a format understood by the CRA and are able to prepare the claim with minimal time commitment from your end. You are not required to do any technical writing.

We stay engaged throughout the year to identify SR&ED eligible work on an ongoing basis, so we’re not looking back at the year-end. This also enables us to provide information on other technology grants and financing opportunities that may apply.

Finally, in the event of an SR&ED review by the CRA, we defend you in the process and help ensure your claim is successful.

Every client engagement is given the same attention; whether you want to engage us to handle your entire claim on a contingency basis, you want us to review and provide feedback on a claim you’ve prepared internally, or you want to engage us on a fixed-cost or hourly basis.

Get a free 1 hour consultation with an expert

Your free 1 hour consultation includes a detailed review of your projects, processes and financial data by one of our R&D Tax experts. We will cover:

  1. What projects qualify
  2. Risk analysis of each project
  3. Financial analysis of each project along with an estimate of the total return you can expect
  4. How to maximize your claims
  5. If you are already claiming, we will analyze your past claims to determine if anything was missed

Talk to one of our experts to see how outsourcing your R&D tax claims to Boast can get you more money back from the government and help you regain the time you need to run your business.

Fill out the form to schedule a conversation.